PUBLICLY Listed company Century Properties Group Inc. (CPGI) bared on Monday it has allocated P205,065,833.76 for distribution of cash dividend to its equity holders next month.
As per its disclosure with the local bourse, the property developer’s board of directors approved its declaration of regular cash incentives of P75,950,308.80, or P0.0065 per share.
Meanwhile, an aggregate amount of P129,115,524.96 will be given as special cash dividends, equivalent to P0.0111 apiece.
Stockholders as of June 2 this year are entitled to receive such incentives on June 19.
The group will tap its unrestricted retained earnings as of December 31, 2016, to cover the cash returns.
Incorporated on March 23, 1975, CPGI is mainly involved in the development, marketing, and sale of mid- and high-rise condominiums and single detached homes, leasing of retail and office space, and property management.
It also undertakes real-estate projects and developments through its wholly owned subsidiaries: Century City Development Corp., Century Limitless Corp., Century Communities Corp., Century Properties Management, and Century Properties Hotel and Leisure Inc.
Through these units, the firm develops markets and sells residential, office, medical and retail properties, as well as manages residential and commercial properties nationwide.
CPGI said its net income for the first quarter of 2017 hit P293.45 million, or P19.53 million lower than the P312.98 million it made in the same period last year.
Gross revenue slightly increased to P1.96 billion in the first three months of this year, from P1.95 billion during the same time in 2016.
Retained earnings as of end-2016 reached P6.5 billion, growing to P6.8 billion for the period ending March 31, 2017.